Demand Forecasting For Inventory Control

Author : Nick T. Thomopoulos
Publisher : Springer
ISBN 13 : 3319119761
Total Pages : 188 pages
Book Rating : 4.62/5 ( download)

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Download or read book Demand Forecasting for Inventory Control written by Nick T. Thomopoulos and published by Springer. This book was released on 2014-12-04 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the methods used to forecast the demands at inventory holding locations. The methods are proven, practical and doable for most applications, and pertain to demand patterns that are horizontal, trending, seasonal, promotion and multi-sku. The forecasting methods include regression, moving averages, discounting, smoothing, two-stage forecasts, dampening forecasts, advance demand forecasts, initial forecasts, all time forecasts, top-down, bottom-up, raw and integer forecasts, Also described are demand history, demand profile, forecast error, coefficient of variation, forecast sensitivity and filtering outliers. The book shows how the forecasts with the standard normal, partial normal and truncated normal distributions are used to generate the safety stock for the availability and the percent fill customer service methods. The material presents topics that people want and should know in the work place. The presentation is easy to read for students and practitioners; there is little need to delve into difficult mathematical relationships, and numerical examples are presented throughout to guide the reader on applications. Practitioners will be able to apply the methods learned to the systems in their locations, and the typical worker will want the book on their bookshelf for reference. The potential market is vast. It includes everyone in professional organizations like APICS, DSI and INFORMS; MBA graduates, people in industry, and students in management science, business and industrial engineering.

Author : Colin Lewis
Publisher : Routledge
ISBN 13 : 113634683X
Total Pages : 172 pages
Book Rating : 4.35/5 ( download)

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Download or read book Demand Forecasting and Inventory Control written by Colin Lewis and published by Routledge. This book was released on 2012-05-23 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: This practical book covers the forecasting- and inventory control methods used in commercial, retail and manufacturing companies. Colin Lewis explains the theory and practice of current demand forecasting methods, the links between forecasts produced as a result of analysing demand data and the various methods by which this information, together with cost information on stocked items, is used to establish the controlling parameters of the most commonly used inventory control systems. The demand forecasting section of the book concentrates on the family of short-term forecasting models based on the exponentially weighted average and its many variants and also a group of medium-term forecasting models based on a time series, curve fitting approach. The inventory control sections investigate the re-order level policy and re-order cycle policy and indicate how these two processes can be operated at minimum cost while offering a high level of customer service.

Author : Nezih Altay
Publisher : Springer Science & Business Media
ISBN 13 : 0857290398
Total Pages : 315 pages
Book Rating : 4.97/5 ( download)

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Download or read book Service Parts Management written by Nezih Altay and published by Springer Science & Business Media. This book was released on 2011-03-24 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the pressure of time-based competition increasing, and customers demanding faster service, availability of service parts becomes a critical component of manufacturing and servicing operations. Service Parts Management first focuses on intermittent demand forecasting and then on the management of service parts inventories. It guides researchers and practitioners in finding better management solutions to their problems and is both an excellent reference for key concepts and a leading resource for further research. Demand forecasting techniques are presented for parametric and nonparametric approaches, and multi echelon cases and inventory pooling are also considered. Inventory control is examined in the continuous and periodic review cases, while the following are all examined in the context of forecasting: • error measures, • distributional assumptions, and • decision trees. Service Parts Management provides the reader with an overview and a detailed treatment of the current state of the research available on the forecasting and inventory management of items with intermittent demand. It is a comprehensive review of service parts management and provides a starting point for researchers, postgraduate students, and anyone interested in forecasting or managing inventory.

Author : Roberto Rossi
Publisher : Open Book Publishers
ISBN 13 : 180064177X
Total Pages : 184 pages
Book Rating : 4.78/5 ( download)

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Download or read book Inventory Analytics written by Roberto Rossi and published by Open Book Publishers. This book was released on 2021-05-24 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory Analytics provides a comprehensive and accessible introduction to the theory and practice of inventory control – a significant research area central to supply chain planning. The book outlines the foundations of inventory systems and surveys prescriptive analytics models for deterministic inventory control. It further discusses predictive analytics techniques for demand forecasting in inventory control and also examines prescriptive analytics models for stochastic inventory control. Inventory Analytics is the first book of its kind to adopt a practicable, Python-driven approach to illustrating theories and concepts via computational examples, with each model covered in the book accompanied by its Python code. Originating as a collection of self-contained lectures, Inventory Analytics will be an indispensable resource for practitioners, researchers, teachers, and students alike.

Author : John E. Boylan
Publisher : John Wiley & Sons
ISBN 13 : 1119135303
Total Pages : 403 pages
Book Rating : 4.02/5 ( download)

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Download or read book Intermittent Demand Forecasting written by John E. Boylan and published by John Wiley & Sons. This book was released on 2021-06-02 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: INTERMITTENT DEMAND FORECASTING The first text to focus on the methods and approaches of intermittent, rather than fast, demand forecasting Intermittent Demand Forecasting is for anyone who is interested in improving forecasts of intermittent demand products, and enhancing the management of inventories. Whether you are a practitioner, at the sharp end of demand planning, a software designer, a student, an academic teaching operational research or operations management courses, or a researcher in this field, we hope that the book will inspire you to rethink demand forecasting. If you do so, then you can contribute towards significant economic and environmental benefits. No prior knowledge of intermittent demand forecasting or inventory management is assumed in this book. The key formulae are accompanied by worked examples to show how they can be implemented in practice. For those wishing to understand the theory in more depth, technical notes are provided at the end of each chapter, as well as an extensive and up-to-date collection of references for further study. Software developments are reviewed, to give an appreciation of the current state of the art in commercial and open source software. “Intermittent demand forecasting may seem like a specialized area but actually is at the center of sustainability efforts to consume less and to waste less. Boylan and Syntetos have done a superb job in showing how improvements in inventory management are pivotal in achieving this. Their book covers both the theory and practice of intermittent demand forecasting and my prediction is that it will fast become the bible of the field.” —Spyros Makridakis, Professor, University of Nicosia, and Director, Institute for the Future and the Makridakis Open Forecasting Center (MOFC). “We have been able to support our clients by adopting many of the ideas discussed in this excellent book, and implementing them in our software. I am sure that these ideas will be equally helpful for other supply chain software vendors and for companies wanting to update and upgrade their capabilities in forecasting and inventory management.” —Suresh Acharya, VP, Research and Development, Blue Yonder. “As product variants proliferate and the pace of business quickens, more and more items have intermittent demand. Boylan and Syntetos have long been leaders in extending forecasting and inventory methods to accommodate this new reality. Their book gathers and clarifies decades of research in this area, and explains how practitioners can exploit this knowledge to make their operations more efficient and effective.” —Thomas R. Willemain, Professor Emeritus, Rensselaer Polytechnic Institute.

Author :
Publisher :
ISBN 13 :
Total Pages : 171 pages
Book Rating : 4.70/5 ( download)

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Download or read book Demand Forecasting and Inventory Control written by and published by . This book was released on with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: This practical book covers the forecasting- and inventory control methods used in commercial, retail and manufacturing companies. Colin Lewis explains the theory and practice of current demand forecasting methods, the links between forecasts produced as a result of analysing demand data and the various methods by which this information, together with cost information on stocked items, is used to establish the controlling parameters of the most commonly used inventory control systems. The demand forecasting section of the book concentrates on the family of short-term forecasting models based on the exponentially weighted average and its many variants and also a group of medium-term forecasting models based on a time series, curve fitting approach. The inventory control sections investigate the re-order level policy and re-order cycle policy and indicate how these two processes can be operated at minimum cost while offering a high level of customer service.

Author : Nezih Altay
Publisher : Springer
ISBN 13 : 9780857290403
Total Pages : 311 pages
Book Rating : 4.01/5 ( download)

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Download or read book Service Parts Management written by Nezih Altay and published by Springer. This book was released on 2011-04-08 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the pressure of time-based competition increasing, and customers demanding faster service, availability of service parts becomes a critical component of manufacturing and servicing operations. Service Parts Management first focuses on intermittent demand forecasting and then on the management of service parts inventories. It guides researchers and practitioners in finding better management solutions to their problems and is both an excellent reference for key concepts and a leading resource for further research. Demand forecasting techniques are presented for parametric and nonparametric approaches, and multi echelon cases and inventory pooling are also considered. Inventory control is examined in the continuous and periodic review cases, while the following are all examined in the context of forecasting: • error measures, • distributional assumptions, and • decision trees. Service Parts Management provides the reader with an overview and a detailed treatment of the current state of the research available on the forecasting and inventory management of items with intermittent demand. It is a comprehensive review of service parts management and provides a starting point for researchers, postgraduate students, and anyone interested in forecasting or managing inventory.

Author : Colleen Crum
Publisher : J. Ross Publishing
ISBN 13 : 1932159010
Total Pages : 257 pages
Book Rating : 4.11/5 ( download)

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Download or read book Demand Management Best Practices written by Colleen Crum and published by J. Ross Publishing. This book was released on 2003-06-15 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective demand management is becoming critical to acompany's profitability. Demand Management BestPractices: Process, Principles, and Collaborationprovides best practice solutions that will improveoverall business performance for supply chain partnersand all functions within a company impacted by the demandmanagement process. The ......

Author : Sven Axsäter
Publisher : Springer
ISBN 13 : 3319157299
Total Pages : 268 pages
Book Rating : 4.90/5 ( download)

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Download or read book Inventory Control written by Sven Axsäter and published by Springer. This book was released on 2015-07-06 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition, which has been fully updated and now includes improved and extended explanations, is suitable as a core textbook as well as a source book for industry practitioners. It covers traditional approaches for forecasting, lot sizing, determination of safety stocks and reorder points, KANBAN policies and Material Requirements Planning. It also includes recent advances in inventory theory, for example, new techniques for multi-echelon inventory systems and Roundy's 98 percent approximation. The book also considers methods for coordinated replenishments of different items, and various practical issues in connection with industrial implementation. Other topics covered in Inventory Control include: alternative forecasting techniques, material on different stochastic demand processes and how they can be fitted to empirical data, generalized treatment of single-echelon periodic review systems, capacity constrained lot sizing, short sections on lateral transshipments and on remanufacturing, coordination and contracts. As noted, the explanations have been improved throughout the book and the text also includes problems, with solutions in an appendix.

Author : Sanjay Sharma
Publisher : CRC Press
ISBN 13 : 1000545067
Total Pages : 220 pages
Book Rating : 4.67/5 ( download)

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Download or read book Inventory Planning with Forecasting Expenditure written by Sanjay Sharma and published by CRC Press. This book was released on 2022-03-07 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: In industrial or business cases, purchasing and procurement are significant functions. Usually, a procurement plan is prepared based on certain predictions of consumption patterns or demand. When this plan is implemented, the benefit is obtained corresponding to forecast accuracy. In the available literature, forecasting accuracy is frequently discussed. A need is established to link forecasting accuracy with forecasting expenditures. After an explicit inclusion of the forecasting expenditure, this book describes inventory planning for procurement and production. FEATURES Discusses forecasting expenditure in detail Provides an analysis of reduction and increase in forecasting expenditures Highlights advanced concepts that include procurement inventory, production planning, and priority planning in detail Examines an approach in relation to the inclusion of an explicit cost of forecasting Covers total cost formulation, modified total cost, relevant index, threshold value, and cost of forecasting in a comprehensive manner with the help of examples Inventory Planning with Forecasting Expenditure is useful for undergraduate and postgraduate students in engineering and management and has potential for elective and supplementary core courses.